Once a leader in American-made bicycles, Cannondale found itself struggling to stay competitive due to the high manufacturing costs. Its owners needed to improve profitability, expand the company’s range of products, and increase its manufacturing capabilities in preparation for a successful sale.
Cannondale brought in Lucidity’s principal officer, whose perspective helped bypass chokepoints and overcome the company’s fixed mindset. He pioneered the company’s first overseas ‘complete bike’ manufacturing operation, driving a 12% reduction in costs, which in turn created a $1MM increase in gross profitability over an 18-month period. This positioned the company to compete globally and paved the way for a successful exit of Cannondale’s private equity partners.